Deal Snapshot
LIGAND CLOSES GBP 32.8M ACQUISITION OF UK STRUCTURE-BASED DRUG DISCOVERY SPECIALIST VERNALIS
Thursday 11 October 2018

US-based drugmaker Ligand Pharmaceuticals Inc. (NASDAQ: LGND) has closed the acquisition of the entire issued and to be issued shares of UK-based Vernalis plc (LSE: VER) through a UK scheme of arrangement, the company said.
Vernalis is a structure-based drug discovery biotechnology company with a pipeline of partnered programmes and ongoing collaborations. Ligand's portfolio now contains more than 178 shots on goal. Under the terms of the acquisition, Ligand paid Vernalis shareholders approximately USD 42.3m, offset by approximately USD 32m of net cash on hand at Vernalis, after deal costs.


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Details
Date Published: 11/10/2018
Target: Vernalis plc
Country: UK
Deal Size: 43m (USD)
Sector: Pharmaceuticals
Type: Corporate acquisition
Financing: Cash
Status: Closed
Vendor:
Buyer: Ligand Pharmaceuticals
Buyer Advisor: MTS Securities , finnCap , Latham Watkins
Comment:


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